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Jan 23, 2013
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net derivatives, spain and italy. yes, it's governments and multi- nationals if you want to be transparent. what would you do? what would you all do? if you were my board of directors, it's easy to say don't take the risk. move out. we've been in spain and italy, one for 60 years, wur finish over 100 -- one for over 100. we're not a fair weather friend. companies want us there. we have to manage that risk. something may go wrong. >> got to tell you guys, the feedback after that panel was actually not good. a lot of people criticizing jamie just in the hallways. obviously a lot of people happy to see him defending the bank. a lot of bankers here. the mood, nature of where we are. there was some criticism. the other big news, by the way, not happening in davos -- yeah? >> i was going to say quickly, that may be more a reflection of davos than anything else. i listened to the comments and thought, you know -- >> yes. >> that makes sense. he's right. there's a lot of things businesses do that really help us out in a lot o
net derivatives, spain and italy. yes, it's governments and multi- nationals if you want to be transparent. what would you do? what would you all do? if you were my board of directors, it's easy to say don't take the risk. move out. we've been in spain and italy, one for 60 years, wur finish over 100 -- one for over 100. we're not a fair weather friend. companies want us there. we have to manage that risk. something may go wrong. >> got to tell you guys, the feedback after that panel was...
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Jan 24, 2013
01/13
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so, i use spain as an example because it's representative. if you take spain, but the ecb came in, and put in $450 billion of money. they put in about 350 to the spanish banks. >> was that the right thing to do? >> that was the right thing to do. the policy so far. there was a gap. an unreconcilable gap. an unbridgeable funding gap. >> right. >> okay. that -- so now what we have is a situation where the bow rowing needs and the debt rollover needs and the borrowing are approximately in line, and a cushion has been created, the ecb took over filled the gap where normally the premarket does and it fills it. and that has now moved it along to a different condition. we're going to have a depression -- >> we're having a depression. >> in europe. spain, we call this the lost decade it doesn't mean you can go back and spend like you did before when you get past it. it means that the level of spending is down to the level of income. >> and how long -- you say last decade. you talk about the economic machine, and history. but part of the challenge for
so, i use spain as an example because it's representative. if you take spain, but the ecb came in, and put in $450 billion of money. they put in about 350 to the spanish banks. >> was that the right thing to do? >> that was the right thing to do. the policy so far. there was a gap. an unreconcilable gap. an unbridgeable funding gap. >> right. >> okay. that -- so now what we have is a situation where the bow rowing needs and the debt rollover needs and the borrowing are...
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Jan 11, 2013
01/13
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so continuing lower borrowing costs for italy and, of course, for spain we saw yesterday. now, the -- there we go. 1.9% is the cash market, as well, for italy. today industrial production coming in for november weaker than expected. certainly everybody is now expecting that we'll get headlines talking about triple dip in the uk. we get ta data out on january the 25th. take a look at dollar/yen, 88.89. we hit earlier this morning 89.35. big stimulus package launched in japan and now the bank of japan, so mr. abe is saying maybe the bank of japan, japanese are saying maybe the bank of japan should target employment. >> before we go to a break, andrew found the answer on the stock funds. in u.s.-based fndz, they had $7.5 million since 2001. if you add it up to the money that went into etfs, it's additional aid. pretty good. better than a sharp stick in the eye. >> that's a really good depression. so it's good, but i don't know what it means. >>> coming up, why steve cohen's sap capital could be bracing from the big hour of squawk. you can't afford to miss this next deal in co
so continuing lower borrowing costs for italy and, of course, for spain we saw yesterday. now, the -- there we go. 1.9% is the cash market, as well, for italy. today industrial production coming in for november weaker than expected. certainly everybody is now expecting that we'll get headlines talking about triple dip in the uk. we get ta data out on january the 25th. take a look at dollar/yen, 88.89. we hit earlier this morning 89.35. big stimulus package launched in japan and now the bank of...
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Jan 28, 2013
01/13
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no concern about spain. portugal, by the way, did a very important -- >> >> absolutely right. >> there was no flame -- >> if you think about creating the preconditions for growth at least not having the part of the world aflame is one of the things. and there was some talk, by the way, some upside potential for europe in that unit labor costs have fallen sharply in the peripheral countries. you might get a rebound. >> i think you got on a plane before this happened. on saturday. when he was on a panel where he said they're too complacent that he's actually much more worried that actually all of davos was mistaken. to have the optimism that it seems to. >> i agree it was interesting when we got there, there was all the optimism, by friday people were questioning whether >> and by saturday night -- >> the general demeanor is one that kind of says is usually along those lines of we don't have -- >> glass half empty. >> the glass being half empty. we have to go. wanted to say in response to jeff's comment there
no concern about spain. portugal, by the way, did a very important -- >> >> absolutely right. >> there was no flame -- >> if you think about creating the preconditions for growth at least not having the part of the world aflame is one of the things. and there was some talk, by the way, some upside potential for europe in that unit labor costs have fallen sharply in the peripheral countries. you might get a rebound. >> i think you got on a plane before this...
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Jan 2, 2013
01/13
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the contraction deepening in spain. down for 20 months in a year. the german contraction down by european pmis down for the 10th month and at a faster pace, as well. it's key because germany's the manufacturing powerhouse in the eurozone. mixed pmi data. but on the whole as you see, markets saying we like the deal, we'll get some risk going here, althoughal continue volumes are light. back to you guys. >> all right. ross, thank you. new year's earlier over for ross than it was five hours earlier. >>> coming up, a deal to start 2013. we're not talking about the fiscal cliff. we'll have details next. >>> and the futures at this -- yeah, that's nice. up 194. expected on the open. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345
the contraction deepening in spain. down for 20 months in a year. the german contraction down by european pmis down for the 10th month and at a faster pace, as well. it's key because germany's the manufacturing powerhouse in the eurozone. mixed pmi data. but on the whole as you see, markets saying we like the deal, we'll get some risk going here, althoughal continue volumes are light. back to you guys. >> all right. ross, thank you. new year's earlier over for ross than it was five hours...
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Jan 4, 2013
01/13
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i'm surprised it wasn't from portugal or italy or spain. you know? >> or greece. >> or greece. >> greek guy would have been the best guy to have that. >> look, rick -- >> or italians about guns. >> rick's rant aside, this is an okay jobs report as folks are saying. at a period when you might have expected, you might have worried about something worse. and i very much agree with kelly and the tweeters point, that a self-inflicted wound -- >> you would. >> -- a self-inflicted -- a self-inflicted wound -- >> shots -- >> -- people -- >> rick -- >> one at a time. one at a time. >> the fiscal cliff was a little scratch on your hand compared to reaching the debt ceiling. that is a self-inflicted wound that is far, far deeper. >> we need to grow up. you need to be a man when you look at the debt. if it means uncomfortability, if it means going over -- >> man up on the debt. >> it means the government closing, my kids will thank me some day for it. >> yeah. i don't think so. >> thank you, everybody. >> yeah, well -- >> i'd like to see if you run your personal
i'm surprised it wasn't from portugal or italy or spain. you know? >> or greece. >> or greece. >> greek guy would have been the best guy to have that. >> look, rick -- >> or italians about guns. >> rick's rant aside, this is an okay jobs report as folks are saying. at a period when you might have expected, you might have worried about something worse. and i very much agree with kelly and the tweeters point, that a self-inflicted wound -- >> you would....
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Jan 18, 2013
01/13
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and now in places like spain, they don't even have that? >> i don't think there's any reason to believe that. the most generous welfare systems in europe are in germany and in scandinavia, and those countries don't have a competitiveness problem. you look at the german trade balance, the problem in europe is exactly the reverse. germany's running a huge surplus. that's partly the success of the social welfare system that they've put in place, which makes it an extremely good police to have high productivity workforce. >> but i mean there's been a lot of work, talk about global manufacturing, competitiveness, for example. it's estimated by 2015 all end productivity, transportation costs adjusted, it will be a push to manufacture roughly 2 trillion in products here versus china. with germany 35%, leaving spain and france even farther adrift, yes, germany's done really well in terms of a trade surplus on the backs of the rest of europe, and they've done reasonably well selling capital goods into china. but germany's got a competitiveness probl
and now in places like spain, they don't even have that? >> i don't think there's any reason to believe that. the most generous welfare systems in europe are in germany and in scandinavia, and those countries don't have a competitiveness problem. you look at the german trade balance, the problem in europe is exactly the reverse. germany's running a huge surplus. that's partly the success of the social welfare system that they've put in place, which makes it an extremely good police to...
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Jan 17, 2013
01/13
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try this -- the rain in spain stays mainly -- >> falls mainly. >> falls mainly. i'll work with you if you want my help, phil. i want to see what he says to that. >> i'm not touching that. can't go near that. >> all right. it's good. i like that quote, i did like that shot where the guy goes, hey, boeing decided to go with this electrical system, we, on the other hand, did not. could you hear that in there? >> yeah. >> after saying -- >> they're all great. >> let's talk about some of the other headlines this morning. house republicans are gathered in williamsburg, virginia, today to strategize about upcoming battles in congress, including one over the debt limit. leaders are worried there about divisions within the party and are stressing the importance of presenting a united front. and bank repossessions are now fewer in the u.s., in homes back in 2012. that's according to new figures from realty track. total repossessions last year came in just over 671,000. that's down almost 17% from the prior year and foreclosure activity declined 3%. finally, rio tinto has o
try this -- the rain in spain stays mainly -- >> falls mainly. >> falls mainly. i'll work with you if you want my help, phil. i want to see what he says to that. >> i'm not touching that. can't go near that. >> all right. it's good. i like that quote, i did like that shot where the guy goes, hey, boeing decided to go with this electrical system, we, on the other hand, did not. could you hear that in there? >> yeah. >> after saying -- >> they're all...
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Jan 9, 2013
01/13
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and out of spain which is now up to about 5.1%. interestingly, treasury not catching a bid here. 1.87% is the level to watch as people navigate the u.s. growth outlook. quick check of currencies, the euro/dollar the focus of a debate this morning on "worldwide exchange." a lot of people saying not so fast if you think that the rising dollar in tandem with rising risk is going to be a theme of the year. today we're seeing the euro/dollar give up .1% to 1. 1.3069. and the dollar/yen after reports out of japan saying there will be coordination between the bank of japan and fiscal authorities to try and get to the 2% inflation target. nothing too concrete. again, the proof will be in the poudre figure i can use a -- in the pudding if i can use a popular phrase this side of the bond. back to you. >> kelly services. i like that -- talent. talent, kelly. >> talent at work. >> talent at work. thanks. >>> coming up, the nation's biggest banks preparing to post quarterly results in the coming days. the inside line next. >>> first as we head
and out of spain which is now up to about 5.1%. interestingly, treasury not catching a bid here. 1.87% is the level to watch as people navigate the u.s. growth outlook. quick check of currencies, the euro/dollar the focus of a debate this morning on "worldwide exchange." a lot of people saying not so fast if you think that the rising dollar in tandem with rising risk is going to be a theme of the year. today we're seeing the euro/dollar give up .1% to 1. 1.3069. and the dollar/yen...
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Jan 14, 2013
01/13
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spain's ten-year still below 5% even though we're seeing prices down this morning and the yield for the ten-year in italy down 4.2. quick look at the euro/dollar which is benefiting here and has been doing pretty well of late. 1.3359. adding another .1%. just for joe, i'm going to skip talking about the yen today and that's in part because the nikkei is closed. back to you guys. >> i thought you were going to reference your -- is that a golden -- were you at the gold b globes? that looks like you paid someone a lot of money for that new hair do, right? >> though. it's growing out a little bit so it didn't sit the same way it usually does. becky knows what this is like. i have very curly hair naturally and that's a pain on a daily basis. >> that's what i've been telling him. actually, you know that with your hair, too. >> i know that. you don't want to be a woman. >> the hair has a mind of its own. joe knows this. >> yes. so it was humid or it was snowing or whatever. all right. >> i am a human barometer of what's going on outside. you have to look at my hair and you'll know. all right.
spain's ten-year still below 5% even though we're seeing prices down this morning and the yield for the ten-year in italy down 4.2. quick look at the euro/dollar which is benefiting here and has been doing pretty well of late. 1.3359. adding another .1%. just for joe, i'm going to skip talking about the yen today and that's in part because the nikkei is closed. back to you guys. >> i thought you were going to reference your -- is that a golden -- were you at the gold b globes? that looks...
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Jan 15, 2013
01/13
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prices are now rising for italy and spain for the most part. earlier in the session, we saw the spanish ten-year well above 5%. now it's coming back a little bit. 4.988%. so, again, a mixed bag. italy doing okay. holding in there at 4.14%. you saw, by the way, that 15-year syndicated bond issue for italy going off reasonably well. raising about 6 billion euros and paying about 30 basis points above its government debt levels. look at forex. the euro/dollar in particular, no matter what happens here, there's no one that can plead. take a look back, 1.4348. it's giving back about .25%. interestingly enough, the break-up fears are coming back in the last couple of days. that itself was crating headaches. as some of these major economies head into recession, you can understand the concern coming to the fore. also today, politics is back in place. berlusconi, yes, berlusconi is closing the gap on some of his rivals as the italian elections proemp at the end of next month. that has people at a bit of a curb yugs attitude. if nothing else, italy may n
prices are now rising for italy and spain for the most part. earlier in the session, we saw the spanish ten-year well above 5%. now it's coming back a little bit. 4.988%. so, again, a mixed bag. italy doing okay. holding in there at 4.14%. you saw, by the way, that 15-year syndicated bond issue for italy going off reasonably well. raising about 6 billion euros and paying about 30 basis points above its government debt levels. look at forex. the euro/dollar in particular, no matter what happens...
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Jan 30, 2013
01/13
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yes, spain gdp came in disappointing. but you're not seeing the market react. it is a still micro-specific story. stocks seem as is the case with the u.s. to want to climb higher back to you. >> thank you. >>> another piece of news. chesapeake energy co-founder and ceo aubrey mcclendon will be stepping down in april. the move caps off a tumultuous year for the second largest natural gas producer. last spring a series of reports triggered civil and criminal investigations. regulators in chesapeake's board are looking into mcclendon crossed the line by mixing personal and company business and possible trauflt violatiant violations. shareholders stripped him of the chairman's title. the stock is moving higher on the news. actually, a lot higher. 10% higher. and kay kelly will have more details later. i should note, there was a report in reuters this morning that -- in terms of the compensation he's going to get out the door, it may be that the company doesn't owe him money but that he owes the company money. >> interesting. you never want to see a headline like th
yes, spain gdp came in disappointing. but you're not seeing the market react. it is a still micro-specific story. stocks seem as is the case with the u.s. to want to climb higher back to you. >> thank you. >>> another piece of news. chesapeake energy co-founder and ceo aubrey mcclendon will be stepping down in april. the move caps off a tumultuous year for the second largest natural gas producer. last spring a series of reports triggered civil and criminal investigations....
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Jan 8, 2013
01/13
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impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to "squawk" this morning. making headlines, samsung electronics says it's likely earned a quarterly profit of $8.3 billion, selling about 500 handsets a minute. samsung also benefiting from a pickup in demand for flat screens it makes for mobile devices, including those for rival apple products. but some analysts say investors are concerned samsung's momentum may slow in the first half. also at ces they're selling a $20,000 television that starts -- >> what? >> the new tvs start at 60 inches and go up to 100. >> 85? >> i heard about it. >> 85, that's -- >> life size at some point? >> oh, no. we wanted -- >> right.
impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to...
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Jan 29, 2013
01/13
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impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ dog barks ] ♪ ♪ [ male announcer ] something powerful is coming. ♪ see it on february 3rd. ♪ >>> welcome back, everybody. we're taking a look at what's been happening in the market this morning. so far it looks like those futures are still indicated lower. dow futures off by 15 points. s&p down by 3 points and the nasdaq off by close to 7 points. we did hear from eli lilly with its report on earnings earlier this morning. the pharmaceutical giant earned 85 cents a share, excluding certain items and that was seven cents better than had been expected. revenue also came in above consensus. the cfo of the company derica rice
impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ dog barks ] ♪ ♪ [ male...
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Jan 7, 2013
01/13
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announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. >>> stocks starting off the new year with a bang. the s&p closing at its highest level since 2007. we will bring you picks for your portfolio and the events most likely to move the markets this week. >> a veteran of the banking industry sounds off on america's debt crisis. >>
announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before...